A 156-unit apartment complex has been proposed for a vacant site in Green Valley Ranch by Craft Civil Design, a Denver-based civil engineering firm.
Based on the concept plan submitted by the firm to the city in late September, the development at 5000 N. Tower Road will be named Green Valley Vistas.
It will feature five three-story residential buildings, 166 parking spaces and an on-site Early Childhood Education Center with an adjacent park area of approximately 3,000 square feet that will include a playground.
Catholic Charities of Denver has provided a letter of interest and design consultation to serve approximately 60 children across four to five classrooms.
The development is a joint venture partnership between Denver-based real estate company Brikwell and the Denver Housing Authority, according to a letter submitted by Craft Civil Design Project Manager Connor Culligan.
“Green Valley Ranch home prices have increased 95% in the past decade as this neighborhood has experienced immense growth and gentrification with the continued economic expansion of Denver International Airport (DIA) and the surrounding area,” Culligan said.
“Green Valley Vistas will serve this growing and largely unmet need by prioritizing low-to-moderate income residents with a newly constructed community in an ideal neighborhood location.”
The complex will offer large family units, specifically 48 units (31%), as three and four-bedroom units.
Green Valley Vistas will serve residents earning between 30% and 80% of the Area Median Income, with the community’s average AMI at 54%.
The 3.59-acre site is owned by the Denver Health and Hospital Authority and was purchased in 2017 for $1.7 million, according to city property records.
Representatives from Brikwell and Craft Civil Design did not respond to requests for comment.
Brikwell’s principals have over 45 years of combined experience, having overseen more than $3.8 billion of real estate investment. This experience includes $1.8 billion in asset acquisitions and $2 billion in ground-up development.
